Theory:
The Keltner Channel is a popular trading indicator that combines a Simple Moving Average (SMA) with the Average True Range (ATR) multiplied by a specific factor. This version incorporates intra-day ATR, which you can dive deeper into here. We've also enhanced the standard intra-day Keltner Channel (check it out here) by applying the same resetting procedure to the SMA. Essentially, the first SMA of the day reflects the current price, the second is calculated as SMA(2), and it continues this way until it reaches the specified period defined in the settings.
Usage:
You can use this intra-day Keltner Channel just like you would use the traditional Keltner Channel. It's a versatile tool that can help identify potential trading opportunities.
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